China’s $160 Bn Livestreaming App For ‘Ordinary People’

On Lu Kaigang’s feed, sheets of tarp are transformed into haute couture as China’s mountainous backdrop becomes his catwalk, a 22-year-old villager sashaying to fame via a video-sharing app for the everyman — Kuaishou.

Lu is one of hundreds of millions of users uploading short clips to the app, which propelled its parent company to a $5.4 billion initial public offering last week.

But while its competitor Douyin — the Chinese version of TikTok — is famed for trendy and typically urban influencers, Kuaishou reaches a different demographic, lassoing in migrant workers and rural Chinese.

Lu uses his colourful video stream to show how everyday materials can be turned into sophisticated clothing, and he has set up an in-app store on his profile.

That traction with a poorer but connected mass market known as “tu wei” in Chinese — meaning “earthy” — resonated on the Hong Kong stock exchange.


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Read More bans, then un-bans TikTok app from employee mobile devices

By Echo Wang and Krystal Hu

(Reuters) – In the span of a few hours on Friday, Inc banned and then unbanned the TikTok video sharing app from employee mobile devices, calling the move a mistake.

The news generated widespread attention for the Chinese-owned social media platform coming the same week U.S. Secretary of State Mike Pompeo said the United States is “certainly looking at” banning TikTok, suggesting it shared information with the Chinese government.

It was not immediately clear what led to the initial ban by Amazon. One person familiar with the matter said senior Amazon executives were unaware of the request to delete TikTok from employee devices. The ban was reversed after TikTok and Amazon representatives discussed the matter, according to an email sent to TikTok employees.

Earlier this week, Wells Fargo sent a note to employees who had installed TikTok on company-owned mobile devices telling them

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